Albireo Pharma (NASDAQ:ALBO) Downgraded by Zacks Investment Research to Sell

Albireo Pharma (NASDAQ:ALBO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Albireo Pharma, Inc. is a biopharmaceutical company. It focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo Pharma Inc., formerly known as BIODEL INC., is based in Boston, United States. “

A number of other brokerages have also commented on ALBO. Robert W. Baird boosted their target price on Albireo Pharma from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $79.00 target price on shares of Albireo Pharma in a research report on Wednesday, September 8th. Finally, Wedbush boosted their target price on Albireo Pharma from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 21st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $79.20.

Shares of NASDAQ:ALBO traded up $0.19 during midday trading on Wednesday, reaching $29.07. The company’s stock had a trading volume of 3,153 shares, compared to its average volume of 196,360. The firm has a market capitalization of $559.77 million, a price-to-earnings ratio of -3.90 and a beta of 1.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.23 and a current ratio of 7.23. The firm has a 50 day moving average price of $30.62 and a two-hundred day moving average price of $32.42. Albireo Pharma has a fifty-two week low of $27.23 and a fifty-two week high of $43.41.

Albireo Pharma (NASDAQ:ALBO) last issued its earnings results on Wednesday, August 4th. The biopharmaceutical company reported ($1.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.92) by $0.02. Albireo Pharma had a negative return on equity of 82.94% and a negative net margin of 1,468.41%. The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.60 million. As a group, research analysts anticipate that Albireo Pharma will post -6.13 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Albireo Pharma by 46.1% during the 1st quarter. Royal Bank of Canada now owns 1,552 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 490 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Albireo Pharma in the 1st quarter worth approximately $72,000. SG Americas Securities LLC purchased a new position in shares of Albireo Pharma in the 1st quarter worth approximately $116,000. Metropolitan Life Insurance Co NY boosted its stake in shares of Albireo Pharma by 90,960.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,553 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 4,548 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Albireo Pharma in the 2nd quarter worth approximately $205,000. 80.85% of the stock is owned by hedge funds and other institutional investors.

About Albireo Pharma

Albireo Pharma, Inc is a clinical stage biopharmaceutical company, which engages in the development and commercialization of novel bile acid modulators for the treatment of orphan pediatric liver diseases and gastrointestinal disorders. Its pipeline products include Odevixibat, A3384, and Elobixibat.

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